secwatch.observer — SEC 8-K summary
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Issuer:     POPULAR, INC. (BPOP)
CIK:        0000763901
Form:       8-K
Filed at:   2024-04-23T23:59:59+00:00
Accession:  0001193125-24-105952
Event type: earnings
Sentiment:  positive
Materiality: 0.70
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Popular Q1 net income $103.3M, EPS $1.43; NII rises 3% QoQ, NIM widens 8bps
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- GAAP net income $103.3M ($1.43 diluted EPS), up from $94.6M ($1.31) in Q4; adjusted net income $135.2M.
- Net interest income $550.7M (+3.1% QoQ); net interest margin 3.16% (up 8 bps).
- Operating expenses $483.1M, down $48M QoQ, includes $14.3M FDIC special assessment; ex-items up $2.7M.
- Credit stable: NPL ratio 1.0%, NCO ratio 0.71%, ACL ratio 2.11% (all vs prior).
- CET1 ratio 16.36%, tangible book value $60.06/share; deposits grew $190.5M ending balance.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/763901/000119312524105952/0001193125-24-105952-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/763901/000119312524105952/d830538d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-105952

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer